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Category: Legal
Satisfied Customers: 57381
Experience:  Licensed attorney helping individuals and businesses
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I currently own 5 design patents on a new womens cosmetic

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I currently own 5 design patents on a new women's cosmetic packaging idea. I am trying to secure a licensing deal but still owe $50,000 on the patent fees. My company is an LLC
do I have to use my own money to pay the fees or does it fall under the LLC. I have not yet gotten money to pay off the patent fees and i am worried they will come after me.
Hello and thank you for your question. If you need more details after you read my answer, click reply (not relist) & I will gladly respond. The obligation falls on the LLC unless you personally contracted and incurred the debt.
Customer: replied 7 years ago.

What should I do if they tell me I have to pay them......what happens if they put a lein on my patents?

You would look at who applied and point out that the claim was by the llc, but practically they can lien the patent so a payment plan should be worked out.
Customer: replied 7 years ago.

What happens if I get a licensing deal during this process of paying them?

It should not be affected if you have a settlement.
Customer: replied 7 years ago.

They said ok with paying them $5,000 now (which is my own personal money) is that wize?

In full settlement or by payment plan?
Customer: replied 7 years ago.
It will have to be a payment plan. I am trying to find another way to secure the balance due. It looks like I should get an offer in the next couple of months.
You should consider a settlement and get it in writing. Kindly accept my answer.
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